Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-283-250"
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"en.20111201.35.4-283-250"2
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"I welcome the European Central Bank (ECB) Annual Report for 2010. We should welcome the fact that the ECB has done its job very well, particularly at such a difficult time for the whole of Europe, when GDP growth has been low and commodity prices have been volatile. In spite of these factors, the ECB has played a decisive role by taking emergency measures to maintain market, price and financial stability, and proper liquidity in financial markets. Throughout the crisis, the ECB has taken a determined and proactive stance. However, in carrying out the functions assigned to it, the ECB must ensure that its work is more transparent. I believe that in order to eliminate the current credit rating oligopolies and promote fair competition, it is appropriate to set up a European credit rating foundation. Moreover, the Commission must make every effort to ensure that a European Monetary Fund is established and begins to function as soon as possible. Only by implementing these measures will we reduce the dependency of the Member States on other international institutions and ensure that the IMF is not involved in Europe’s future credit policy."@en1
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